BTC price VS gambling

[madnessteat]

Gambling gets more popular when the prices go up in my opinion because people have a lot of money to spend and they want to celebrate and what better place to celebrate than to gamble some money in crypto gambling websites.

It is worth considering that the cryptocurrency market is a zero-sum market and according to its rules for one person to get rich, the other person needs to lose money. So in my opinion your conclusion that if the price of cryptocurrencies grows, people spend more money on gambling than usual is not quite correct. People can spend more money on gambling because of forced self-isolation, quarantine or other reasons, but it doesn't depend much on BTC price.

The bull run attracts investors, as they are attracted to invest, there's also a chance that they will get interested in gambling. Also, other gamblers who have been constantly gambling in the crypto space will gamble more if they will make more money in a bull run.

The logic is very simple, most gamblers do not really make money in gambling, most of them lose but they can be profitable investing in crypto due to the bull run, therefore they have a lot of money to burn in gambling.

Let's assume that there is a certain number of investors who sell/buy cryptocurrencies on the market. Some of them are into gambling and spend their earnings on their favorite pastime. For them to be able to spend more money, they need other investors to buy up their assets at an inflated price. Question: if gamblers can afford to spend more money during a bull market, doesn't that mean they are the best investors? Couldn't there be a situation where a gambler is on the other side and by buying an asset at an inflated price he simply loses the opportunity to gamble?

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[dunfida]

The logic is very simple, most gamblers do not really make money in gambling, most of them lose but they can be profitable investing in crypto due to the bull run, therefore they have a lot of money to burn in gambling.

There is an opposite side of it too. I have seen a user who was never in gambling but he started to gamble with his investment while bitcoin price dropped significantly last year. He thought that he could manage to make profit by gambling and it will help him to recover the amount what he had lost for the price drop. At first he was able to make few BTC profit, but eventually he lost all of his bitcoin and become so much disappointed. I remember, he said in the chat that he have no option left without committing suicide. Everyone tried to convince him at chat but don't know what he did later.

Making gambling as a last resort or considering for it to be the way on making things recover then you should think not because it will just worsen up the situation which is really similar to this
and there are really people who do really end up on considering this path without realizing on the risk involved and they should have not really touched up gambling if you are
really going into the investment path because entertainment and investment wouldnt really collaborate and comparing off the risk then it isnt really much worth.

[hahay]

The logic is very simple, most gamblers do not really make money in gambling, most of them lose but they can be profitable investing in crypto due to the bull run, therefore they have a lot of money to burn in gambling.

There is an opposite side of it too. I have seen a user who was never in gambling but he started to gamble with his investment while bitcoin price dropped significantly last year. He thought that he could manage to make profit by gambling and it will help him to recover the amount what he had lost for the price drop. At first he was able to make few BTC profit, but eventually he lost all of his bitcoin and become so much disappointed. I remember, he said in the chat that he have no option left without committing suicide. Everyone tried to convince him at chat but don't know what he did later.

Making gambling as a last resort or considering for it to be the way on making things recover then you should think not because it will just worsen up the situation which is really similar to this
and there are really people who do really end up on considering this path without realizing on the risk involved and they should have not really touched up gambling if you are
really going into the investment path because entertainment and investment wouldnt really collaborate and comparing off the risk then it isnt really much worth.

I only consider those who switch to gambling when the price drops because I think it is the wrong choice. As an investor, he should buy more when the price drops, not expect a double in gambling because that will only destroy his investment and the value of the asset continues to fall. In that case at least it can teach everyone a lesson because after all, investment assets and gambling funds keep them separate because in gambling we will not know whether to win or lose but most of them are losers so yes, it should be a serious consideration.

[Fredomago]

The logic is very simple, most gamblers do not really make money in gambling, most of them lose but they can be profitable investing in crypto due to the bull run, therefore they have a lot of money to burn in gambling.

There is an opposite side of it too. I have seen a user who was never in gambling but he started to gamble with his investment while bitcoin price dropped significantly last year. He thought that he could manage to make profit by gambling and it will help him to recover the amount what he had lost for the price drop. At first he was able to make few BTC profit, but eventually he lost all of his bitcoin and become so much disappointed. I remember, he said in the chat that he have no option left without committing suicide. Everyone tried to convince him at chat but don't know what he did later.

Sad thing that may happened when you are not ready to accept the volatility, gambling is not the best place if you are in the place that you losing your investment, besides it's not really losing but because of the volatile market price changed a lot.

If you do your research first then you'll understand what are those risk that you needed to face, on that user that's always possible especially if there's no other options and if the amount of money that he/she losses are huge.

There are people who see suicide as their last resort instead of accepting their failures and try to find alternative ways to recover back.

[jrrsparkles]

I think online crypto gambling is still doing the same thing even if the market comes hell or high water since there are other crypto options that you can use if you feel like bitcoin isn't worth being used for gambling.

The more bitcoin or the crypto market gets the attention, the more we will see more gamblers playing their money. It's like there's a celebration in the crypto space when there's a bull run, so people will be enticed to gamble, and that makes the gambling business more profitable in a bull run.

Have you heard that Yolodice close business in the bull run? that's because they already made a lot of money and I think the owner is already satisfied.

Yes, they close their gambling site although it's still very popular, they never said they are already rich that's why they close it.

here's their official statement.

https://bitcointalk.org/index.php?topic=1674772.4500

I read that they are under so much pressure with their personal life which is the reason why they are suspending indefinitely but they may comeup again at any time when they are ready for it, Bull run or bear run the profit is going to be more or less similar to their average profits per month but due to the bull run there are many competitors in the gambling industry ever than before.

[mirakal]

I think online crypto gambling is still doing the same thing even if the market comes hell or high water since there are other crypto options that you can use if you feel like bitcoin isn't worth being used for gambling.

The more bitcoin or the crypto market gets the attention, the more we will see more gamblers playing their money. It's like there's a celebration in the crypto space when there's a bull run, so people will be enticed to gamble, and that makes the gambling business more profitable in a bull run.

Have you heard that Yolodice close business in the bull run? that's because they already made a lot of money and I think the owner is already satisfied.

Yes, they close their gambling site although it's still very popular, they never said they are already rich that's why they close it.

here's their official statement.

https://bitcointalk.org/index.php?topic=1674772.4500

I read that they are under so much pressure with their personal life which is the reason why they are suspending indefinitely but they may comeup again at any time when they are ready for it, Bull run or bear run the profit is going to be more or less similar to their average profits per month but due to the bull run there are many competitors in the gambling industry ever than before.

They still have a place if they will come back, they have already built their reputation so that is not a problem. It's hard to mix your personal life to your business, that is a big site, they should have proper planning on managing their people so whatever personal problem in life, they can still continue to run their business.

I mean, they are making like millions of dollars and they give up on that? There must be some other reason... just don't mind, I don't want to speculate.

[jrrsparkles]

They still have a place if they will come back, they have already built their reputation so that is not a problem. It's hard to mix your personal life to your business, that is a big site, they should have proper planning on managing their people so whatever personal problem in life, they can still continue to run their business.

I mean, they are making like millions of dollars and they give up on that? There must be some other reason... just don't mind, I don't want to speculate.

I am not sure they are making millions of dollars with their business, they are reputed but their bankroll size was much smaller than other casinos. We faced 1st and 2nd wave of covid all over the world in 2020 which may be a reason why they are so much under pressure. Most casinos are operated by small group of people even they are biggest in terms reputation and wagered amount in online.

But they have some valid reason to suspend the site instead of exit scam which is much appreciated.

[imstillthebest]

Don't talk too much about the dump as currently, a pump is happening.

Check out the https://coinmarketcap.com/.. bitcoin has an 11% rise today and altcoins have ever better rise.
This should give value to your bitcoin, up 11%, is an extra profit.

So this is it, sometimes it's bullish, sometimes it's bearish, nothing special.

That's very usual.

We dump, we see the pump.

We see a small percentage for the pump but we've got more than it during the dump. But that's it, as said, it's very normal.

Bitcoin is struggling to break the $40k, it was supposed to be easy if the market is bullish, but it seems not already. A rise is good but we should not make an instant judgment yet to ride with it, we have to be careful as bitcoin has not fully recovered yet, it could fall again and cause panic, you know that's how the market worked, it's very unpredictable, so we have to be smart all the time.

it wasnt easy to break new higher price when the price is already high .
dont you remember that we are stuck in $50k something last time ? but we never touched $60k and but this is not the case that happen when btc started moving in $11k and up because the growth was continous  .
the dump of the price can trigger us back in gambling our btc because fees should also gets lowered and it can help us earn fast profit when we win our bets than waiting for the price to recover .

[South Park]

Don't talk too much about the dump as currently, a pump is happening.

Check out the https://coinmarketcap.com/.. bitcoin has an 11% rise today and altcoins have ever better rise.
This should give value to your bitcoin, up 11%, is an extra profit.

So this is it, sometimes it's bullish, sometimes it's bearish, nothing special.

That's very usual.

We dump, we see the pump.

We see a small percentage for the pump but we've got more than it during the dump. But that's it, as said, it's very normal.

Bitcoin is struggling to break the $40k, it was supposed to be easy if the market is bullish, but it seems not already. A rise is good but we should not make an instant judgment yet to ride with it, we have to be careful as bitcoin has not fully recovered yet, it could fall again and cause panic, you know that's how the market worked, it's very unpredictable, so we have to be smart all the time.

The whales are manipulating the market which means that unless they want the price to go up it will not do so, it is obvious what they are doing, they crashed the price because they want to get even more coins and this means they are still not satisfied with the number of coins they got out of this crash and at the same time they are trying to get all the weak hands they can out of the market so the next time they pump the price the market goes up even faster than before.

[ChuckBuck]

I mean, they are making like millions of dollars and they give up on that? There must be some other reason... just don't mind, I don't want to speculate.

LoL, yes, why should you bother with why they stopped doing business when they themselves don't want to explain exactly what they are trying to do? we don't have to speculate, simply ignore it    but I also have to admit that it's a pity that Yolodice has closed down, they are an old casino, not involved too much in advertising but still have a steady number of users, that's really great!

I just think it would be good if he resells the brand to someone trustworthy, I think a lot of people still want to use Yolodice even if it changes hands.

[BTCLiz]

The logic is very simple, most gamblers do not really make money in gambling, most of them lose but they can be profitable investing in crypto due to the bull run, therefore they have a lot of money to burn in gambling.

There is an opposite side of it too. I have seen a user who was never in gambling but he started to gamble with his investment while bitcoin price dropped significantly last year. He thought that he could manage to make profit by gambling and it will help him to recover the amount what he had lost for the price drop. At first he was able to make few BTC profit, but eventually he lost all of his bitcoin and become so much disappointed. I remember, he said in the chat that he have no option left without committing suicide. Everyone tried to convince him at chat but don't know what he did later.

If I were you I wouldn't count much into some random chat messages. People can claim almost everything and in my personal opinion mostly this is just a way to gain interest of others to make them pay for you. This doesn't work in 99%, but in 1% they are successfull. This seems to be enough obviously. Dont waste your time listen to these chat messages.

[boyptc]

Don't talk too much about the dump as currently, a pump is happening.

Check out the https://coinmarketcap.com/.. bitcoin has an 11% rise today and altcoins have ever better rise.
This should give value to your bitcoin, up 11%, is an extra profit.

So this is it, sometimes it's bullish, sometimes it's bearish, nothing special.

That's very usual.

We dump, we see the pump.

We see a small percentage for the pump but we've got more than it during the dump. But that's it, as said, it's very normal.

Bitcoin is struggling to break the $40k, it was supposed to be easy if the market is bullish, but it seems not already. A rise is good but we should not make an instant judgment yet to ride with it, we have to be careful as bitcoin has not fully recovered yet, it could fall again and cause panic, you know that's how the market worked, it's very unpredictable, so we have to be smart all the time.

Well, that could be the conclusion that we're no longer in the bull run if that's the attitude of it if it cannot be back on the $40k level again. But like today, it has broken $40k and I saw it. But that doesn't mean the bull run is back again.

These are really the usual fluctuations that we'll see in the market. And I'll just include the tx fees, it's such a good thing to see that it's not that high as the other cryptos during transfers and those who are not confident to gamble in btc should be confident now.

[Questat]

Don't talk too much about the dump as currently, a pump is happening.

Check out the https://coinmarketcap.com/.. bitcoin has an 11% rise today and altcoins have ever better rise.
This should give value to your bitcoin, up 11%, is an extra profit.

So this is it, sometimes it's bullish, sometimes it's bearish, nothing special.

That's very usual.

We dump, we see the pump.

We see a small percentage for the pump but we've got more than it during the dump. But that's it, as said, it's very normal.

Bitcoin is struggling to break the $40k, it was supposed to be easy if the market is bullish, but it seems not already. A rise is good but we should not make an instant judgment yet to ride with it, we have to be careful as bitcoin has not fully recovered yet, it could fall again and cause panic, you know that's how the market worked, it's very unpredictable, so we have to be smart all the time.

Well, that could be the conclusion that we're no longer in the bull run if that's the attitude of it if it cannot be back on the $40k level again. But like today, it has broken $40k and I saw it. But that doesn't mean the bull run is back again.

These are really the usual fluctuations that we'll see in the market. And I'll just include the tx fees, it's such a good thing to see that it's not that high as the other cryptos during transfers and those who are not confident to gamble in btc should be confident now.

It's not the kind of run that we saw in the past months, it's slowing down and bullish sentiment might slowly be going down now. Though there are some bullish movements I believe bearish is more dominant as we are heading for a heavy correction.

In connection to that, when the market is less congested, we can expect an affordable transaction fee and gambling would be back to normal for small-time gamblers.

[boyptc]

It's not the kind of run that we saw in the past months, it's slowing down and bullish sentiment might slowly be going down now. Though there are some bullish movements I believe bearish is more dominant as we are heading for a heavy correction.

Yeah, it has slowed down and that makes it turn back to its normal point. We get to see a small pump but more of the dumps and that's what really the market is after it has pumped a lot.

In connection to that, when the market is less congested, we can expect an affordable transaction fee and gambling would be back to normal for small-time gamblers.

Yes, unlike those days when we're in the bull run, a lot of transaction were happening but whenever the market starts to be calm and more of corrections then fees are dropping too.

[Mahdirakib]

I only consider those who switch to gambling when the price drops because I think it is the wrong choice. As an investor, he should buy more when the price drops, not expect a double in gambling because that will only destroy his investment and the value of the asset continues to fall. ~

Situation was different for that user. He told that he had invested all of his money in bitcoin. We all know that how sharply bitcoin price dropped during the March month of last year. The user was expecting to balance his investment amount (in usd value) by making profit through gambling. But he lost it all.

If I were you I wouldn't count much into some random chat messages. People can claim almost everything and in my personal opinion mostly this is just a way to gain interest of others to make them pay for you. This doesn't work in 99%, but in 1% they are successfull. This seems to be enough obviously. Dont waste your time listen to these chat messages.

That user was placing big bets and he got everyone attention while his bets was showing at chat by high roller bot. Actually he wasn't lying. His profit stats was visible to all user. And I have checked his stats too, but I can't remember how much btc he lost.

[Maslate]

Don't talk too much about the dump as currently, a pump is happening.

Check out the https://coinmarketcap.com/.. bitcoin has an 11% rise today and altcoins have ever better rise.
This should give value to your bitcoin, up 11%, is an extra profit.

So this is it, sometimes it's bullish, sometimes it's bearish, nothing special.

That's very usual.

We dump, we see the pump.

We see a small percentage for the pump but we've got more than it during the dump. But that's it, as said, it's very normal.

Bitcoin is struggling to break the $40k, it was supposed to be easy if the market is bullish, but it seems not already. A rise is good but we should not make an instant judgment yet to ride with it, we have to be careful as bitcoin has not fully recovered yet, it could fall again and cause panic, you know that's how the market worked, it's very unpredictable, so we have to be smart all the time.

it wasnt easy to break new higher price when the price is already high .
dont you remember that we are stuck in $50k something last time ? but we never touched $60k and but this is not the case that happen when btc started moving in $11k and up because the growth was continous  .
the dump of the price can trigger us back in gambling our btc because fees should also gets lowered and it can help us earn fast profit when we win our bets than waiting for the price to recover .

As if the fees really are a big hindrance for the gamblers, whatever the market situation, gamblers would still continue to play and enjoy. Besides, a 10 USD fee difference is not really huge, it will not stop them from gambling, trading is different from gambling so we should stop comparing it or making it like they should compe together when making a decision.

[just_Alice]

They still have a place if they will come back, they have already built their reputation so that is not a problem. It's hard to mix your personal life to your business, that is a big site, they should have proper planning on managing their people so whatever personal problem in life, they can still continue to run their business.

I mean, they are making like millions of dollars and they give up on that? There must be some other reason... just don't mind, I don't want to speculate.

Yeah, the personal problem doesn't seem like a real reason to close a business, and, as far as they're quite popular, I suspect the business was successful. I doubt it was run by one person or even a small group of people, they could've just found a proper substitute.

However, regarding this "They still have a place if they will come back", I would disagree. It is a very competitive niche, tens of gambling sites pop up every day and it's not only difficult to build a reputation, but to keep it also. Which is why, while they're gone the gamblers are likely to find something else instead and get used to that, it would be extremely difficult to pool the clients back.

[Viscore]

They still have a place if they will come back, they have already built their reputation so that is not a problem. It's hard to mix your personal life to your business, that is a big site, they should have proper planning on managing their people so whatever personal problem in life, they can still continue to run their business.

I mean, they are making like millions of dollars and they give up on that? There must be some other reason... just don't mind, I don't want to speculate.

Yeah, the personal problem doesn't seem like a real reason to close a business, and, as far as they're quite popular, I suspect the business was successful. I doubt it was run by one person or even a small group of people, they could've just found a proper substitute.

However, regarding this "They still have a place if they will come back", I would disagree. It is a very competitive niche, tens of gambling sites pop up every day and it's not only difficult to build a reputation, but to keep it also. Which is why, while they're gone the gamblers are likely to find something else instead and get used to that, it would be extremely difficult to pool the clients back.

That's a good point, leaving the market is leaving that big opportunity, I double they will still come back and start a new one, besides the games they offered is not different from the games other sites are offering, so they might be gone for good.

[boyptc]

As if the fees really are a big hindrance for the gamblers, whatever the market situation, gamblers would still continue to play and enjoy. Besides, a 10 USD fee difference is not really huge, it will not stop them from gambling

For the usual gamblers, it doesn't matter. But not every one of us has that the same situation that we don't care about the fees. There are those small gamblers that a $2-$5 fee is already a big matter to them.

trading is different from gambling so we should stop comparing it or making it like they should compe together when making a decision.

The comparison of gambling and trading I think will never stop. From the perspective of other people, they'll always look at both things as the same.

[Sanitough]

As if the fees really are a big hindrance for the gamblers, whatever the market situation, gamblers would still continue to play and enjoy. Besides, a 10 USD fee difference is not really huge, it will not stop them from gambling

For the usual gamblers, it doesn't matter. But not every one of us has that the same situation that we don't care about the fees. There are those small gamblers that a $2-$5 fee is already a big matter to them.

They are stupid if they will force using bitcoin. We have a lot of altcoins as an alternative, they just simply use it and their worries will be gone.
With some altcoins that you can pay less than $1 as a transaction fee, gambling should not be a problem.

Let's continue having fun, regardless of the market situation.

trading is different from gambling so we should stop comparing it or making it like they should compe together when making a decision.

The comparison of gambling and trading I think will never stop. From the perspective of other people, they'll always look at both things as the same.

I agree unless they will use a stable coin in gambling.